Insider Selling: RetailMeNot General Counsel Sells 2,000 Shares of Stock (SALE)
RetailMeNot (NASDAQ:SALE) General Counsel Louis J. Agnese III sold 2,000 shares of RetailMeNot stock on the open market in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the sale, the general counsel now directly owns 15,001 shares of the company’s stock, valued at approximately $434,579. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
SALE has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of RetailMeNot from an “underperform” rating to a “neutral” rating in a research note on Tuesday, March 11th. They now have a $41.60 price target on the stock. Separately, analysts at Wunderlich reiterated a “buy” rating on shares of RetailMeNot in a research note on Monday, March 3rd. They now have a $44.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $42.51.
Shares of RetailMeNot (NASDAQ:SALE) traded up 3.94% on Monday, hitting $32.71. 2,104,588 shares of the company’s stock traded hands. RetailMeNot has a one year low of $25.51 and a one year high of $48.73. The stock’s 50-day moving average is $33.24 and its 200-day moving average is $33.70. The company has a market cap of $1.725 billion and a price-to-earnings ratio of 136.83. RetailMeNot also was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 1,193,739 shares, a decline of 36.1% from the March 31st total of 1,867,145 shares. Based on an average trading volume of 1,270,466 shares, the short-interest ratio is presently 0.9 days. Approximately 4.6% of the company’s shares are short sold.
RetailMeNot (NASDAQ:SALE) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.19 by $0.08. The company had revenue of $61.30 million for the quarter, compared to the consensus estimate of $55.59 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 51.0% on a year-over-year basis. Analysts expect that RetailMeNot will post $1.08 EPS for the current fiscal year.
RetailMeNot, Inc operates digital coupon marketplace, connecting consumers with retailers and brands.
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